Martin Shkreli had faced a long trial and he may go to prison. Even though he is well known by jacking up medication prices, his prison term will be for something completely unrelated. The courts were more interested at looking back on his history of managing hedge funds
After review of the jury, they court had found Martin Shkreli guilty of securities fraud. This crime can potentially have a 20-year prison sentence, but it is still up in the air on how long he will serve (if he serves any time at all).
Although it was one of the lesser charges, he was caught stealing money from one of his companies in order to reimburse damages for investors. Basically, the jury did see that his intentions were good by making things right for his investors but it was still technically illegal.
What Martin’s legal team had mostly focused on during the trial was by showing how there was no malicious intent with his actions. He also explained how Martin put in a lot of hours and sacrificed from his own personal life in order to make his customers happy. In the end, there were no losses and there were only a few white lies behind it. In the end, a crime was still committed in order for him to turn things around.
An Unbiased Jury?
Considering his reputation as a greedy mastermind that is raising the cost of medications, you would think that the jury would throw the book at him. In fact, the jury was asked if they knew about his involvement in the pharmaceutical industry. If jurors had said yes, they were automatically excluded from the trial. This means that it was unlikely that previous bad press had influenced the outcome.
Shkreli’s Infamous Online Persona
Most of the people following the drama behind Shkreli are likely younger social media users. He constantly acts cocky through Twitter and Facebook. He had even mocked the jurors, the trial and the press with the confidence that he will win the trial. He called it a witch hunt by people who don’t know anything about his industry.
He even has a tight-knit group of followers that watch him live streaming through Youtube throughout the trial. When he was sentenced, he still live streamed from his apartment while drinking beer and cracking jokes about his future prison life.
It still remains to be seen if a jail sentence will be made and for how long.